Westpac Group

Associate/ Senior Associate, Asset Finance

New York, NY, United States

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Job Description

Role Title:Senior Associate or Associate, Asset Finance New York

About Westpac: Westpac Institutional Bank ("WIB") is Australia’s leading institutional bank, managing the financial needs of corporate, institutional and government clients. We are a leading provider of wholesale banking services in our region, with an increasing presence in the Northern Hemisphere

About the Team:The Asset Finance team is responsible for the origination, structuring, pricing, and documentation of asset-secured financing solutions for WIB customers. These are typically secured loans with recourse to large corporates (mostly public companies or private companies of equivalent scale) in the aviation, shipping, rail, land transport, natural resources, diversified industries, technology, defence and other industry sectors. Our typical commitment size is US$50-200+million equivalent. Transactions may be syndicated facilities, club deals or bilateral loans. Borrowers include both owner-operators and lessors, and are a mix of new-to-bank and existing WIB customers. Transactions are typically secured on large-ticket strategic assets such as aircraft, ships and other maritime assets, rail, buses, trucks, yellow goods, mining equipment, industrial equipment & plant, real estate synthetic leases, IT and data centre equipment etc.

How will I help?

This position presents an exciting opportunity to build and grow the Asset Finance business across the Northern Hemisphere. You will contribute to the origination and execution of new complex asset finance opportunities, as well as taking responsibility for management of a fast-growing portfolio. The position will support transactions across both our New York and UK/European Asset Finance teams, which are both part of WIB’s expanding global Asset Finance business. The position title could be either Senior Associate or Associate, depending on the level of experience that the successful candidate brings. The role will report to Director, Asset Finance in New York.

• Manage portfolio of existing clients and their ongoing asset finance requirements, attending client meetings alongside colleagues.
• Rapidly attain a working knowledge of common Asset Finance structures.
• Develop industry expertise in the key segments in which the team operates. Create sector research and presentations for client origination purposes and internal initiatives.
• Assist in preparation of RFP submissions, termsheets and credit applications for newly originated transactions with WIB customer and targets.
• Model transaction cashflows and returns using Excel and inhouse systems.
• Successfully close transactions through involvement in processes such as internal approvals, legal documentation, and liaising with back office teams for funding.
• Provide support for policy development and strategy projects across the wider team as required.
• Over time, build a network of external relationships with other banks that are active in the sector, in order to help drive dealflow and maintain appropriate market profile and position.
• Balance all of the above with a strong risk management approach.

What’sin it for me?

You’ll be joining a highly supportive and collaborative team with international coverage during a period of Group Executive backed growth plans for WIB and specifically the CIB Business.

Westpac in NY offer comprehensive range of benefits including flexibility and various leave entitlements. This includes generous annual leave entitlement with purchase leave options, 100% employer funded Private Medical Insurance, andparticipation in a 401(k) plan with profit share contributions.Fixed compensation range for this position is between $80,000 (entry level)– $150,000 (4+ years’ experience) + bonus.

What do I need?

• Minimum 1-4 years of banking experience, with a good understanding of common banking systems and operational processes. Alternatively, you may have a similar level of experience in an analytical position within accounting, alternative investments or a consulting/advisory role, working with complex debt transactions.
• Some previous exposure to structured lending is desirable, as it will provide exposure to technical areas such as financial modelling, credit analysis, and essential legal concepts, which will support success in the role
• Self-motivated with strong work ethic and attention to detail
• Ability to develop and maintain an active network with banks and other investors
• Proven ability to build trust and rapport with internal stakeholders across diverse functions
• Ability to manage competing priorities and work to tight timeframes in a deal-driven environment
• High customer service values, with commercial awareness and business acumen
• Ability to work seamlessly across teams and geographies
• Proficiency in Excel / Powerpoint / Word

What’sit like to work here?

When you join, you’ll become part of the broader Westpac family – where we aim to be a friendly, switched-on team working for a single purpose - Creating Better Futures Together – it’s what we do, who we are and why we come to work every day. As an equal opportunity employer, we’re proud to have created a culture where people can be their best, in an environment that values diversity and flexibility.

Within Westpac, you will be part of the Institutional Banking division, where our vision is to be a high performing and innovative institutional bank, committed to enabling the growth of our global clients, our economy, and delivering sustainable shareholder returns.